Toshiba’s failure shows business can’t deliver a nuclear future

Guardian,9 Nov 18 , Phillip Inman As Cumbria reactor plan stalls, it is clear that huge resources are needed for such projects. If the government was keen to boost Britain’s nuclear industry, it was always clear that the private market would struggle to deliver.

Hinkley was a deal that appeared to be with a private company but the really meaningful talks were between Whitehall officials and their counterparts in the French government, EDF’s controlling shareholder. It took years of agonising brinkmanship to conclude the talks, much of them conducted on the French side by the then economy minister, Emmanuel Macron.

Toshiba, on the other hand, is a private company struggling on its own to navigate the complex politics surrounding nuclear power in the wake of the Fukushima disaster.

In 2006 it bought the US nuclear business Westinghouse, part of British Nuclear Fuels and home to much of the UK’s nuclear power industry. With climate change creeping to the top of the agenda and demand for new nuclear plants around the world growing, it seemed like a good idea.

However, the 2011 Fukushima disaster changed all that. Governments in Japan and other countries halted the development of new nuclear plants. Last year, cost overruns on building the first new US nuclear power plants in three decades pushed Westinghouse into bankruptcy and Toshiba into financial meltdown. The future of the Cumbrian nuclear plant has been in doubt ever since.

Earlier this year Toshiba sold Westinghouse to a private equity outfit as a services provider for existing nuclear plants. The construction of new reactors was not on the agenda. To no one’s surprise, Toshiba has now confirmed it has abandoned building any new plants in the UK.

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Changing climate change“2040” paints an optimistic picture of the future of the environment

The film focuses on technological and agricultural solutions that are already being implemented to help combat climate change, The Economist Feb 19th 2019

by C.G. | BERLIN ……….In “2040”, a documentary which premiered at the Berlinale, Mr Gameau seeks to wrest hope from the bleak reports of climate change. He was inspired by Project Drawdown, the first comprehensive plan to reverse global warming, and the film is intended as a “virtual letter to his four-year-old daughter to show her an alternative future”. “Many films,” Mr Gameau thinks, are too dystopian, and “paint a future that is really hard to engage and to connect with”. “2040” acknowledges that the Earth has set off down a hazardous path, but focuses on the work that is being done now to steer the right course. What, the film asks, could make 2040 a time worth living in?…. (subscribers only) https://www.economist.com/prospero/2019/02/19/2040-paints-an-optimistic-picture-of-the-future-of-the-environment